Accounts with less than 120 days past due are classified into the early stages of delinquency. In these cases, the debt collection strategy needs to be well-thought-out and immediate, right from the first day that balance is outstanding, in order to increase the likelihood of collecting payment.
Apart from using appropriate tools and learning about the key aspects of efficient collection, it is advisable to determine courses of action whereby debt is paid off as soon as possible.
There are different strategies that prove ideal according to the debt delinquency timeline, such as SMS messages.
Nuxiba developed the following infographic including some important factors of soft collection.
For more information about our debt collection software, click on the image below!
